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The Latest: Global markets mostly gain after Trump tariffs and jobs report sent Wall Street tumbling

Aug 4, 2025, 5:54 AM

President Donald Trump speaks with reporters before boarding Air Force One at Lehigh Valley Interna...

President Donald Trump speaks with reporters before boarding Air Force One at Lehigh Valley International Airport, Sunday, Aug. 3, 2025, in Allentown, Pa. (AP Photo/Julia Demaree Nikhinson)
Credit: ASSOCIATED PRESS

(AP Photo/Julia Demaree Nikhinson)

Global shares advanced Monday after Wall Street had its worst day since May following the release of weak U.S. jobs data and U.S. President Donald Trump 鈥檚 announcement of sweeping tariffs on imports from many U.S. trading partners. The new import duties are set to take effect Thursday.

France鈥檚 CAC 40 added 0.8% in early trading to 7,609.44, while the German DAX rose nearly 1.0% to 23,702.42. Britain鈥檚 FTSE 100 edged up 0.4% to 9,108.28.

Tokyo鈥檚 Nikkei 225 index lost 1.3%, bouncing back from bigger losses earlier in the day to finish at 40,290.70. The Hang Seng in Hong Kong jumped 0.9% to 24,733.45, while the Shanghai Composite index climbed nearly 0.7% to 3,583.31. In South Korea, the Kospi surged 0.9% to 3,147.75.

U.S. shares were set to drift higher with Dow futures up 0.6% at 43,951.00. S&P 500 futures rose 0.6% to 6,302.75.

Here’s the latest:

Trump鈥檚 Monday schedule

The only thing on President Trump鈥檚 public schedule today is a lunch with Vice President JD Vance at 12:30 p.m., according to the White House.

Trump attacks Charlamagne Tha God after radio host criticizes his presidency

Trump on Sunday lashed out at radio host Charlamagne Tha God, saying in a social media post that the popular broadcaster 鈥渒nows nothing about me or what I have done.鈥

Trump鈥檚 comments came a day after Charlamagne, whose real name is Lenard McKelvey, criticized Trump on Fox News.

Asked how he would rate Trump鈥檚 presidency, the radio host said, 鈥淚 wouldn鈥檛 give it a good rating simply because the least of us are still being impacted the worst.鈥

Trump said on Truth Social that Charlamagne was a 鈥渄ope鈥 who voted for Democratic Vice President Kamala Harris.

Charlamagne said he personally will benefit from tax breaks approved in Trump鈥檚 tax-and-spending law, but said, 鈥淭here鈥檚 going to be so many people that鈥檚 hurt by that bill.鈥欌

鈥淎nything that takes away Medicaid from people and will put people in a worse financial situation than they were previously in, I鈥檓 not for,鈥 he added.

Charlamagne, who co-hosts a nationally syndicated radio show, 鈥淭he Breakfast Club,鈥 added that his criticism of the Republican president was not new, adding that he 鈥済ave President Biden the same hell.鈥

鈻 Read more about Charlamagne鈥檚 comments

Smithsonian denies White House pressure to remove Trump impeachment references

The White House did not pressure the Smithsonian to remove references to Trump鈥檚 two impeachments from an exhibit and will include him in an updated presentation 鈥渋n the coming weeks,鈥 the museum said Saturday.

The revelation that Trump was no longer listed among impeached presidents sparked concern that history was being whitewashed to appease the president.

鈥淲e were not asked by any Administration or other government official to remove content from the exhibit,鈥 the Smithsonian statement said.

A museum spokesperson, Phillip Zimmerman, had previously pledged that 鈥渁 future and updated exhibit will include all impeachments,鈥 but it was not clear when the new exhibit would be installed. The museum on Saturday did not say when in the coming weeks the new exhibit will be ready.

鈻 Read more about the Smithsonian and Trump

It鈥檚 Trump鈥檚 economy now. The latest financial numbers offer some warning signs

For all of President Donald Trump鈥檚 promises of an economic 鈥済olden age,鈥 a spate of weak indicators last week told a potentially worrisome story as the impacts of his policies are coming into focus.

Job gains are dwindling. Inflation is ticking upward. Growth has slowed compared with last year.

More than six months into his term, Trump鈥檚 blitz of tariff hikes and his new tax and spending bill have remodeled America鈥檚 trading, manufacturing, energy and tax systems to his own liking. He鈥檚 eager to take credit for any wins that might occur and is hunting for someone else to blame if the financial situation starts to totter.

But as of now, this is not the boom the Republican president promised, and his ability to blame his Democratic predecessor, Joe Biden, for any economic challenges has faded as the world economy hangs on his every word and social media post.

鈻 Read more about the state of the U.S. economy under Trump

National News

Associated Press

2 killed, 6 wounded in shooting at music festival after-party in downtown Los Angeles

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Mother of 2 missing children reindicted with murder after 11 years of psychiatric treatment

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President Donald Trump speaks with reporters before boarding Air Force One at Lehigh Valley Interna...

Associated Press

The Latest: Global markets mostly gain after Trump tariffs and jobs report sent Wall Street tumbling

Global shares advanced Monday after Wall Street had its worst day since May following the release of weak U.S. jobs data and U.S. President Donald Trump 鈥檚 announcement of sweeping tariffs on imports from many U.S. trading partners. The new import duties are set to take effect Thursday. France鈥檚 CAC 40 added 0.8% in early […]

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Associated Press

Boeing addresses more labor strife amid attempt to resuscitate its reputation

A strike by thousands of workers that build fighter jets for Boeing at three U.S. plants is the second labor disruption for the plane builder in less than a year. The strike that began just after midnight Monday involving more than 3,000 members of the International Association of Machinists and Aerospace Workers arrives as Boeing […]

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Associated Press

Rep. Nancy Mace kicks off South Carolina GOP gubernatorial bid. She says she’s ‘Trump in high heels’

WASHINGTON (AP) 鈥 Republican Rep. Nancy Mace of South Carolina is running for governor, entering a GOP primary in which competition for President Donald Trump’s endorsement 鈥 and the backing of his base of supporters 鈥 is expected to be fierce. Mace, who last year won her third term representing South Carolina鈥檚 1st District, made […]

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The Latest: Global markets mostly gain after Trump tariffs and jobs report sent Wall Street tumbling